In the heart of Vancouver housing market, November 2023 unfolds with balanced conditions and an unprecedented surge in inventory—a scenario not witnessed since 2021.

Andrew Lis, REBGV’s director of economics and data analytics, notes a promising trend: “We’ve been watching the number of active listings in our market increase over the past few months, which is giving buyers more to choose from than they’ve been used to seeing over the past few years.”

The Multiple Listing Service® (MLS®) captures this wave, recording 3,369 newly listed detached and attached properties, marking a 9.8% increase compared to November 2022. The total number of properties listed on the MLS® system in Metro Vancouver stands at 10,931—a 13.5% increase from November 2022 and 3.7% above the 10-year seasonal average of 10,543.

Vancouver housing market

深入探討11月2023年各類別房產的銷售活躍度,整體銷售活躍度為16.3%。按房產類型分類,獨立屋為12.7%,聯排別墅為19.8%,公寓為18.2%。

揭示歷史數據,表明持續在12%以下的銷售活躍度對房價形成下行壓力,而超過20%的銷售活躍度則可能推動房價上升。

November 2023 Vancouver Housing Market – Highlights by Property Type:

獨立屋:

  • 2023年11月的銷售量為523套,較2022年11月增長了7%。
  • Uncover the nuances of the benchmark price for detached homes at $1,982,600—a 6.8% increase from November 2022 and a 0.9% decrease compared to October 2023.

公寓:

  • 2023年11月的銷售量達850套,較去年同期增長了0.4%。
  • Dive into the details of the benchmark price for apartment homes at $762,700—an impressive 6.2% increase from November 2022 and a 1% decrease compared to October 2023.

聯排別墅:

  • 2023年11月的銷售總量達316套,較2022年11月增長了12.5%。
  • Examine the benchmark price for townhouses at $1,092,600—an increase of 6.9% from November 2022 and a 0.7% decrease compared to October 2023.

As Andrew Lis concludes, “With most economists expecting mortgage rates to fall modestly in 2024, market conditions for buyers are arguably the most favorable we’ve seen in some time in our market.” Dive into the intricate dynamics of the Vancouver housing market, where opportunities and balance coalesce in November 2023.

Reference Resources From REBGV

If you would like to learn more about Vancouver’s housing market, or if you are interested in selling or purchasing a property, please contact Sam Hung, one of the best Realtors in Greater Vancouver.